SR&ED Claims And Tax Credits In Canada

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Canadian SRED Solutions

• SRED Claims Canada

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Filing your SRED claim
How do I file my SRED claim? How do I file my
SRED claim?

• To file a SRED claim, you have to file an income
  tax return along with Form T661 and other
  supporting documents. In Form T661, write about
  your business and provide contact information.

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Canadian SRED Solutions

• Then explain your SRED project. If there are
  multiple projects, you must provide detailed
  information about each. Information you need to
  supply in your SRED application includes the
  methods used, and the advancement achieved.
  Moreover, you need to clearly indicate the
  expenses that you want to claim for each project.
  And you need to indicate how you have calculated
  your expenses, through the traditional method or
  the proxy methodNext, supply information about
  your claim preparer. Lastly, sign and confirm
  that all the information you are submitting is
  true. Make sure all relevant documents,
  supporting documents and evidence are submitted
  before the deadline deadline.

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The CRA carefully checks each claim and will
reject any that do not meet its criteria. So it
is highly recommended that you consult SRED
professionals. Our team of experts can help you
in gathering, filing and reviewing documents. And
they will come to your aid if any query or
difficulty arises to make sure your claim gets
approved.
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What supporting documents do you need for SRED
claim?
To prove that the SRED project took place and
the expenses relating to it were incurred in that
year, you need to present supporting documents to
the CRA. It is best if these documents are
signed and dated and relate to the period for
which the SRED project was active. Though
expenses incurred after the completion of the
project may also be eligible if they are
relevant. Supporting documents can be in many
forms including plans, invoices, financial
statements, pictures, notes, testing records,
samples, journals, ledgers, agreements,
contracts, etc.
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When should file SRED claim?
It is essential to be alert to the submission
deadlines. You should prepare beforehand and not
rush through the filing process. If you do, you
risk your application being rejected for being
incomplete or insufficient. You need to file
your claim between fifteen and eighteen months
from the end of the fiscal year. The exact
deadline depends on the category of tax filing
you belong to. For example, corporate tax filers
have eighteen months to submit their claims. We
recommend you file the claim within six months of
the year end. This helps if you need to make
amendments or add information to your claim as
you can do this up until the deadline.
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CONTACT US
Canadian SRED Solutions

• Canadian SRED Solutions is a highly committed
  team of professional SRED experts that provides
  comprehensive and tailored solutions to process
  your SRED grants with Canada Revenue Agency
  (CRA) while maximizing the total refund. Our team
  of SRED experts has been serving clients for
  over 20 years now and is well versed in SRED
  rules across all industry sectors.

https//canadiansred.ca/claim-sred-credits/
Vancouver Canadian SRED Solutions 1285 West
Broadway Suite 600 Vancouver, BC V6H 3X8 Tel
778-221-1984
Calgary Suite 1901 - First Alberta Place 777 -
8 Avenue SW Calgary, AB T2P 3R5 Tel [phone]
Toronto Canadian SRED Solutions First Canadian
Place 100 King Street W Suite 5700 Toronto, ON
M5X 1C7 Tel [phone]